October 19, 2021
The dwindling supply of homes may be poised for a turnaround, cooling the red-hot market

Florida Trend Real Estate

The dwindling supply of homes may be poised for a turnaround, cooling the red-hot market

| 9/20/2021

The dwindling supply of homes may be poised for a turnaround, cooling the red-hot market

The housing market has been red hot. The combination of low borrowing rates, strong demand for more living and work-from-home space as the pandemic wears on, and tight supply have driven up prices. While concentrating on price and sales, which are indicators of demand, is important, don’t overlook supply. More homes may be hitting the market, helping cool it down some. [Source: Miami Herald]

Nothing stops Florida landlords from raising rents out of sight. That’s not true in some states.

As rents skyrocket in Florida, landlords still enjoy unbridled power to raise rents as much as they want, a situation that has driven renters out of their homes and renewed calls for caps on rising rent. Florida is quickly becoming the worst place in America to rent, but attempts to impose rent controls have always failed. Now, with a historic housing boom, rents are racing upward in a market where too few apartments have been built and affordable housing is scarce. [Source: South Florida Sun-Setinel]

Real estate investors set sights on student housing

Student housing has become the latest area of intrigue for investors, as they’re putting up billions of dollars to acquire and develop off-campus residences, The Wall Street Journal reports. Companies like Blackstone Inc. and Brookfield Asset Management Inc. are offering student housing facilities that comprise amenities like game and video rooms, gyms and fast Wi-Fi. Some even have swimming pools. [Source: Connected Real Estate Magazine]

Are you ready for a 3D-printed house? They’re cheaper, stronger and long-lasting, developers say

The printed homes are said to be quicker to make, stronger, and resistant to such Florida hazards as mold, hurricanes and flooding. And most crucial of all: They seem poised to offer affordable housing in a state where many have forgotten there can be such a thing. But to see for yourself, South Floridians will need to saddle up and head for Tallahassee to inspect the house, which the Lights say is the only permitted 3D-printed home in Florida. [Source: South Florida Sun-Sentinel]

Zoomtowns: These cities are prime real estate for remote workers

Over the last year, so-called Zoomtowns have boomed as some remote workers, no longer tethered to a specific city or daily commute, hit the open road. A new LinkedIn report highlights the top cities for remote workers. While many remote workers are opting for smaller scenic areas, plenty are choosing larger metros, including four cities in Florida. [Source: Tech Republic]

STAT OF THE WEEK
11,443
An 11,443-square-foot waterfront estate on a two-acre lot in Palm Beach was listed for sale last week for $55 million — and there’s a good chance it may be torn down and replaced with something brand new. [Source: South Florida Sun-Sntinel]

ALSO TRENDING:

› Disney buys nearly 60 acres for new Lake Nona campus in Orlando
An entity related to Burbank, California-based The Walt Disney Co. — Orlando's largest employer — has purchased nearly 60 acres in southeast Orlando for its future Lake Nona campus as it relocates 2,000 jobs to Central Florida. Dynamic Campus LLC, an entity related to Disney, spent roughly $46 million on nearly 60 acres in Lake Nona, or roughly $766,666 an acre, according to Orange County records.

› Slideshow: Jacksonville's most expensive neighborhoods see surge in prices
As all residential real estate prices continue to surge in Jacksonville, the region's priciest neighborhoods are no different. Jacksonville's 25 most expensive single-family residential neighborhoods' average home price is more than $455,000, up nearly 10 percent year-over-year, according to data from Zillow Research.

› As Tampa Bay gets more expensive, micro apartments with robotic furniture are coming
As rent prices climb across Tampa Bay, some developers are looking for ways to make the most out of each square foot. That’s why the company behind NICHE, a new six-story apartment complex in Tampa’s North Hyde Park, will offer 83 “micro” units, using “robotic furniture” to maximize the limited space, Wingspan Development Group said in a statement. The complex will open in 2023.

› These homeowners expected to have a pool and tennis court. Now, Boca Raton is closing them down.
Residents of a private, gated community in Boca Raton feel the city is cheating them out of a lifestyle they’ve enjoyed for years, simply to provide golfing opportunities to the public. The Boca Raton Resort & Club donated the 30-acre golf course at Boca Country Club to the city last year, and city officials plan to open it to the public Nov. 1. But the city will permanently shut down a swimming pool in the development and temporarily close tennis courts for repairs on Oct. 1, possibilities that were never discussed publicly when the city accepted the donation.

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